Okay, soooo, gas prices are astronomical... Oil company profit margins haven't budged... Reelection bids are always compromised by higher energy prices... Consumers vote... Consumers are paying out the nose at the pump... Politicians need a villain... The consumer is quick to play the victim... Voila! Politicians demonize oil companies - punish them for their greed... Eliminate tax incentives for exploration, etc. Hit them where it hurts and the consumer will love it!!
Hmm... higher taxes on oil companies + less exploration, etc. = lower or higher gas prices??
Hmm... oil companies are owned by shareholders, which are largely mutual funds and pension plans, which have accounted for a substantial percentage of gains to everyday peoples' 401(k)'s and pension accounts over the past two years...
Yeah, let's all get behind that!! Let's punish those bastards!! It'll be worth paying $5 bucks a gallon, it'll be worth the hit to our retirement portfolios just to get back at those bastards... Let's cut off our noses to spite our faces!!
Seriously folks, I'm not big on subsidies to any industry... I'm all for a lower corporate tax rate, with your basic expense deductions... In a perfect world (ha) we'd have a zero corporate rate - read How About a Zero Corporate Tax Rate...
Oh and take a look at what you paid for groceries last month. Food prices have risen more than gas prices... How come we're not going after the big bastard grocery chains??
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